Finance

Washington H. Soul Pattinson backs Australian battery developer with $26 million

Developer North Harbour has secured early-stage funding for two battery projects in New South Wales, Australia.

By

Tristan Rayner

Jul 28, 2025

Investment firm Washington H. Soul Pattinson has taken a one-third stake in North Harbour Clean Energy, investing AUD $40 million (USD 26 million) and securing one or two board seats.

The Australian Financial Review reported Soul Patts, a long-running Australian investment house with holdings across resources, healthcare, and infrastructure, is backing North Harbour’s first two grid-scale battery projects in New South Wales, a 400 MW system in Aberdeen and another south of Tamworth, together worth about $800 million.

Each project is expected to need around $180 million in equity, with the rest financed through debt. Financial close is targeted from mid-2026, with super funds expected to participate at that stage.

Both are located north-west of Sydney, with Aberdeen close to existing coal fired power station Bayswater, and closed plant Liddell, in the heart of coal-mining country. Tamworth is a regional center situated on the Peel River.

North Harbour is also developing pumped hydro, and watching flow battery technologies but says lithium-ion remains its focus for now as long-duration technology scales.

Written by

Tristan Rayner

Tristan is an Electrical Engineer with experience in consulting and public sector works in plant procurement. He has previously been Managing Editor and Founding Editor of tech and other publications in Australia.

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